HCMC facilitates for investors

To achieve the target set for 2017, People’s Committee of the Ho Chi Minh City urges departments, agencies and local governments to facilitate for investors.

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In the first six months of the year, the city’s Industrial Production Index (IPI) is estimated to jump by 7.5 percent against the same period last year, the highest level in five recent years.

Noticeably, four key industries of the city have seen the growth of 9.72 percent compared to the whole sector. The city has over 18,000 newly established enterprises with registered capital of VND227 trillion ($9.9 billion); additionally, over 26,000 companies registered to expand their investment capital with a total supplemented capital of VND265 trillion.

A representative from the Department of Industry and Trade said that it is a positive sign when the rate of newly established enterprises increased 10 percent and the registered capital doubled.

It is predicted that in the last months of the year, more companies will be established when district governments adopted measures to encourage businesspersons.

Regarding new investment, some 340 FDI projects with a total investment of about $2.15 billion were licensed; mostly are manufacturing industry and process industry.

HCMC authority urged its sub-divisions to facilitate business environment and improve administrative procedures in taxation and customs as well as promote start-up activities.

For instance, the municipal People’s Committee provides VND1 trillion investment package from state budget to help start-up companies and encourage those who are in business at homes to set up companies. Moreover, a stimulus package of VND2 trillion will be back enterprises to apply technologies.

The Department of Industry and Trade and the State Bank of Vietnam together run a program connecting banks and enterprises, attempting to help enterprises access to loans with low interest rate.

The government will launch promotional program to sell enterprises’ products in provinces as well as support exports.